Newark Apartment Portfolio Multifamily Sells For $80M - David Jarvis - Gebroe-Hammer Associates

The Newark Apartment Portfolio, located in Newark, was recently sold in a closed transaction. The multifamily property, consisting of 484 units, was sold for a total price of $80,000,000. David Jarvis from Gebroe-Hammer Associates represented the seller in this deal.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $80,000,000
• Units: 484
• Price Per Unit: $165,289

This significant sale in Newark highlights the strong market demand for multifamily properties. The transaction was facilitated by David Jarvis of Gebroe-Hammer Associates, who acted as the broker for the seller. The sale price of $80,000,000 reflects the value of this large-scale apartment portfolio, with each unit averaging a price of $165,289.